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The simple interest of an amount is Rs 50 for two years and the compound interest is Rs 55. The rate of interest is same in both the cases. Find the rate? Find the amount? |
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Answer» The simple interest of the amount for two years = Rs 50 The simple interest of the amount for 1 year = Rs 25 The compound interest of the amount for 2 years = Rs 55 The interest in the 2nd year = 55 – 25 = Rs 30 Interest for Rs 25 = Rs 5 |
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